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Ola Fleet To Receive $ 7.7 Million From ANI Technologies

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Ola Fleet To Receive Money From ANI Technologies,Startup Stories,Latest Business News 2017,Ola Cab Funds Receive From ANI Technologies,Ola Latest News,Ola Latest Fund Raising Round,Ola Technologies Launch Cab Leasing Programme,Ola Cab New Offers

Ola Fleet Technologies Pvt., Ltd., Ola’s cab leasing arm, has reportedly received $7.7 million in fresh funds from parent company ANI Technologies Pvt., Ltd. Filings with the Ministry of Corporate Affairs show Ola Fleet received the fresh capital on 12 October 2017.

VCCircle reported, Ola Fleet allocated close to 50 million equity shares at a subscription price of Rs. 10 apiece. This round of investment follows a Rs. 50 crores and Rs. 100 crores funding by Ola in July this year. Launched as a leasing programme in 2015, Ola Fleet has already managed to secure multiple loans from Yes Bank, Axis Bank, HDFC Bank and ICIC Bank. The company has been steadily expanding its consumer vehicles fleet. Ola Fleet allows the company’s partner drivers own vehicles through periodical installments. 

While Ola is yet to comment on this latest fundraising round, the development comes at a time when the company is facing a series of setbacks. Both Ola’s and Uber’s cab leasing business have been battling driver exits and defaults on car loan EMIs. According to sources, the State Bank of India also suspended car loans for the Uber and Ola taxis, following loan defaults of about Rs. 120 crores. A news daily reported, the bank even seized around 300 cars owned by both companies, in May this year.

Despite loan defaults, the company posted a net sale of Rs. 5.6 crores for the financial year 2015-2016. Ola Fleet was started on the principle of an asset light model, where instead of purchasing a new car, drivers could enter into a contract with Ola. Both Ola and the driver partner could then share a certain percentage of profit arising out of the business. Subsequently, Ola Technologies launched the cab leasing programme to gain more control over the driver partners and restrain them from migrating to rival companies. However, extensive driver exits has put the leasing businesses in a limbo. It is still unclear how Ola Fleet will use this infusion of fresh capital. 

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Imarticus Learning Acquires MyCaptain for INR 50 Crore to Boost Non-Tech Upskilling

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My Captain

Imarticus Learning, an IPO-bound professional education firm, has acquired Bengaluru-based edtech platform MyCaptain for INR 50 crore in a cash-and-stock deal. This marks Imarticus’s fourth acquisition in four years and is aimed at expanding its presence in non-tech career training, especially across India’s Tier-II and Tier-III cities. MyCaptain, which has over 500,000 learners and a revenue of ₹27 crore for FY25, specializes in creative and entrepreneurial fields, with 60% of its users from smaller cities.

 

With this acquisition, Imarticus will bring MyCaptain’s employability bootcamps in digital marketing, design, and content to its 20+ classroom centers in 16 cities, blending online and offline learning. MyCaptain will operate as a fully-owned subsidiary, and all 250 of its employees will join Imarticus, expanding the combined workforce to over 850. The move supports Imarticus’s goal to reach five million learners by FY28 and deepen its offerings in non-tech domains.

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Ex-100X.VC Partners Launch 247VC, Announce INR 250 Crore Fund for Seed-Stage Startups

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StartupStories

Former 100X.VC partners Yagnesh Sanghrajka and Shashank Randev have launched a new venture capital firm, 247VC, unveiling a maiden fund with a target corpus of INR 250 crore (about $30 million). The SEBI-registered Category II AIF includes a base of INR 200 crore and a INR 50 crore greenshoe option, and is focused on backing 30 seed-stage startups across India over the next three years.

 

247VC will target high-potential founders in sectors like deeptech, enterprise tech, consumption, and Industry 5.0, with initial cheque sizes ranging from INR 3 crore to INR 4 crore and follow-on capital for top-performing companies. The fund has attracted prominent early backers, including Sachin Tagra (JSW Ventures), Vivek Mathur (ex-Elevation Capital), and Shailendra Majmundar (Johns Hopkins University).

Sanghrajka and Randev, who together have invested in over 200 startups previously, aim to support ambitious founders building for scale and innovation, especially in emerging and underexplored markets. The launch comes as seed-stage investing gains momentum in India, with average cheque sizes rising despite a cautious funding environment.

 

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Flam Secures $14M Series A to Revolutionize Mixed Reality Marketing with AI

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Flam_StartupStories

AI infrastructure startup Flam has raised $14 million in a Series A round led by RTP Global, with participation from Dovetail and existing investors, bringing its total funding to $22 million. Founded in 2021, Flam enables brands to create and deliver high-fidelity mixed reality (MR) and generative AI experiences without the need for app downloads, allowing consumers to access immersive content via QR codes or links in under 300 milliseconds.

Flam’s platform is already used by over 100 global brands-including Google, Samsung, and Netflix-reaching more than 380 million users. The new funding will accelerate product innovation, expand operations in North America, Europe, and Asia, and launch a full-stack enterprise suite for MR and GenAI-driven marketing. The company currently has over 120 employees and plans to grow to 180 by the end of 2025, aiming to transform every brand touchpoint into an interactive digital experience.

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